OLYMPIC GAMES

Olympic Games

The impact that the 2012 Olympic Games could have on Bedford City Council and what the Council will need to do in preparation for the Games

Executive Summary

Organizing an event the size of the Olympic Games presents undoubted benefits of all types to the organizing City, and, by extension, to the region in which it is located In line with these arguments, it should be asked what the main effects of organizing the 2012 Olympic Games will be on Bedford, a candidate City with strong possibilities of being ultimately chosen. Indeed, in the assessment report produced by the Internal- tonal Olympic Committee, Bedford was in a very prominent position, and is also the only great European capital that has still not staged the Games. Olympic 2012 will bring a huge impact on the economy of London, but particularly it will be very beneficial for Bedford. Small business man of the locality will face huge competition due to the global brands. They need to develop strategies for their survival in the market. They need to market their products they can seek help from marketing campaigns and advertisements. They can offer discounts to attract customers. By focusing on quality, they can retain and attract customers. They should target on the customers and develop strategies to attract them. By focusing on quality, they can increase the number of their customers. Soft skills are also very essential to attract customers. A firm can survive with average quality product, but to sell they need to work in the area of soft skills.

Introduction

The main subject studied in the report refers to the distribution of effects according to productive sectors of the economy. The general conclusion inevitably points to an obvious concentration of effects on the building industry, in keeping with the nature of planned investment, very much concentrated on construction and infrastructure modification, both in transport and competition (CERA , Andersen , 1999, pp. 33). The effects on construction are such that they mean 47.6% of the total output gene- rated for the City of Bedford, and an even higher percentage when the reference criteria is employment; in this case, the percentage rises to 54.7%. Other sectors that most benefit are significantly removed from construction and, in general, coincide a fair deal in all economic variables (output, GVA and employment) (CERA , Andersen , 1999, pp. 33). Hotel and catering and the retail trade occupy the upcoming positions. Real estate services are prominent in output but not so much in employment when compared with the drive of other sectors that have strong induced effects, transmitted via income and its con- sequent reintroduction into the productive system through consumption, such as domestic service, health and private education (CERA , Andersen , 1999, pp. 33). With respect to the distribution of effects among direct, indirect and induced components, the total of the latter two acts as an echo box that doubles the initial impact. The multiplying effects (the total of indirect and induced effects) are more strongly ...